Nasdaq invests $100M in Kraken parent Payward
Nasdaq's $100M investment in Payward
Nasdaq is putting $100 million into Payward, the company that owns crypto exchange Kraken, according to a Bloomberg report. The money will be used to develop infrastructure for tokenized stocks.
Key points
- Investment amount: $100 million.
- Target company: Payward, parent of Kraken.
- Purpose: build structure for tokenized stocks.
- Valuation: the deal values Payward at about $21 billion.
- Nasdaq plans to let Kraken distribute its tokenized stocks on Kraken’s platform.
What the Bloomberg report says
The report, citing people familiar with the matter, says the deal has not yet been announced by either Nasdaq or Payward. It adds that Kraken will offer Nasdaq‑listed stocks in token form, allowing customers to own them as digital tokens.
What is confirmed
- Nasdaq is investing $100 million in Payward.
- Payward is the parent company of the Kraken exchange.
- The investment is intended to support tokenized stock infrastructure.
- The reported valuation of Payward is $21 billion.
What is still unclear
- The exact terms of the agreement have not been disclosed.
- No official announcement has been made by Nasdaq or Payward.
- Timeline for rolling out tokenized stocks on Kraken’s platform is not provided.
Why this matters
Tokenization means turning traditional assets like stocks into digital tokens that can be traded on a blockchain, a technology that works 24/7. Wall Street firms are increasingly interested in this approach, and the investment shows a major exchange exchange moving into that space.
What happens next
Kraken plans to list and trade Nasdaq’s tokenized stocks on its platform, but further details will likely follow once the deal is officially announced.
